Essential Things to Look For to Buy a Property in Amritsar

The majestic city of Golden Temple, Amritsar, is undoubtedly one of the most beautiful destinations for weekend getaways in India. Interestingly, the city also houses several residential properties that catch the attention of people looking forward to buy villas in Amritsar.

There are several well-known real estate projects in Amritsar like the Dreamcity Gobindgarh – Khanna. These beautifully constructed residential properties range from apartments and villas to townships and magnificent societies in some of the most sought-after parts of the city. However, buying a house in a city like Amritsar is not easy. With plenty of options to choose from, you need to be sure of your requirements, budget, and more. Taking care of certain factors will make it easy for you to finalize a potential property.

 

If you are planning to buy apartments or villas in Amritsar, here are a few essential factors that you should pay attention to before finalizing the deal:

1. Location of the property

Whether you buy villas or apartments, one of the crucial things to analyze is the locality of the selected residence. While picking the locality, you must ensure that the property is not in any remote area and is easily accessible by road.

2. Distance from basic amenities

Another crucial factor to consider when buying villas in Amritsar is its distance from the nearby locations and basic amenities, including schools and hospitals. In addition to these, also see that the property is in proximity to the city’s entertainment and commercial hub.

3. Background check and legal formalities

Last but not the least is to check that your chosen property is free of legal constrains and is cent percent authentic. Ensure that you get a thorough background check of the property before signing the deal. For this purpose, you can seek professional help to dig into the public records of the potential property and give you necessary details about its owner(s), sales history, construction information, appraisal value and more.

Buying a property in Khanna is not easy, especially when you are eyeing your dream house in cities like Amritsar with no dearth of real estate projects. Hence, the above essential factors will aid your search, further letting you bag a sweet deal.

Important Documents Involved In Commercial Property Investment

A commercial property is used for the purpose of some kind of business activity. The buildings that feature corporate offices and/or retail spaces are the most common variants of commercial properties found today.

No matter whether people plan to invest in a commercial property in Gurgaon, Chennai, Delhi or some other urban hubs of the nation, it is crucial that they are orderly aware of the diverse important documents that are involved in such kind of real estate investment. Before choosing to invest in any commercial property, it is important that people make sure that it has got all the necessary approvals by the statutory authority.

Here are some important documents that are involved in the process of purchasing a commercial property:

Sale deed: This is a crucial document that acts both as a proof of sale and transfers of ownership of a property, and requires to be registered mandatorily. It is vital to execute the sale agreement and check for compliance of various important terms and conditions as agreed between the seller and buyer before the execution of the sales deed.

Mother deed: Also referred to as the parent document, the mother deed basically is used for the purpose of tracing the antecedent ownership of the relevant property right from the beginning. This document is important for furthering the process of the sale of the property and establishing the new ownership.

Building approval plan: This plan is ideally sanctioned by the Corporation or Municipal Authority of the relevant region. Realtors typically have to get their building plans approved from the authority. These plans are largely sanctioned on the basis of zonal classification, plot depth, and road width, as well as floor area ratio (FAR).

Encumbrance certificate (EC): Encumbrance certificate refers to the charges in the ownership, and includes the various registered transactions that are done on the property for a certain period of time. This certificate is usually sought for evidencing the property purchase or sale.

Details about other important documents involved in a commercial property investment can easily be found on the web. No matter whether people are planning to invest in commercial properties in Gurgaon or Noida, they need to be well aware of all the vital documents involved in the process.

Purchasing Commercial Property in Gurgaon: An Overview

Gurgaon is one of the fastest growing Information Technology (IT) hubs in India. Internationally recognized software firms, tech giants and multinational companies already have offices in Gurgaon which had further contributed to its prominence as a hub for the commercial real estate.

Purchasing an Office Space in Gurgaon

The presence of MNCs in the region has also acted as an incentive from smaller software firms, small and medium businesses (SMBs) and startups to open offices in Gurgaon. Having observed this trend, reputed real estate development firms are investing in developing business towers and shopping malls in Gurgaon. Thus, if you were to purchase an office space in a business tower and give it on rent to an entrepreneur, like the owner of an SMB or a startup, you can easily charge a premium rate of rent, given the high demand for office space in Gurgaon. Subsequently, this will ensure that you are able to realize your investment with ease.

Benefits of Investing in Retail Spaces in Gurgaon

Another point that has been observed by real estate experts is that there has been an influx of young working professionals in Gurgaon. Such individuals have higher disposable incomes and often prefer spending weekends and holidays in shopping complexes and mall. This, in turn, gives a big boost to businesses like retail stores operating in malls. So, if you were to purchase a gurgaon commercial property like a retail space in a shopping mall for sale in Gurgaon you can easily look forward to giving the space for rent at premium rates. Otherwise, if you want to start your own retail store, then a retail space in a premier shopping mall in Gurgaon would definitely give a boost to your budding business.

Thus, given the fact that Gurgaon is a thriving metropolis and a major industrial, commercial and IT hub, investing in a commercial property in Gurgaon will definitely prove to be worthwhile. Furthermore, to ensure that your investment is a fruitful one you must also ensure that the property, be it a retail store or an office space is in a prime location within the city and is well connected by various modes of transport.

Here’s why choosing the right location is important for business success

The location of a retail store has a significant influence on the number of customers it is able to attract, and subsequently its profits. Additionally, selecting the ideal location for a retail store would be a long-term decision, associated with long-term capital commitment, and therefore a business owner must put a lot of thought and deliberation before zeroing in on it.

Here are some of the reasons that make the location of a retail store a highly important element:

• The location of a business is essentially a unique feature that cannot be imitated by the competitors. A good location can essentially provide a business quite a strong competitive advantage.
• Selection of retail location is a long-term decision, which would have a major influence in creating the image of a brand in the minds of the consumers.
• A well-connected store would make the system of supply and distribution much smoother and easier.
• A Good location is the key element for attracting customers to an outlet, and has a considerable influence on their purchasing habits as well.

Before visiting any store, one of the prime factors consumers deliberate upon is that how much distance they have to travel to reach their desired destination. This is especially true for largely populated cities like Delhi, Mumbai, Gurgaon, Noida, and Bangalore where consumers have to face rush-hour traffic jams while going on a shopping spree during their weekends. Therefore, it is important that retail outlets present in these cities be located in areas offering a good connectivity to its other key regions, so that the customers do not face any problems in commuting to and fro.

For instance, some of the new commercial projects in Gurgaon developed by renowned real estate companies of North India are advantageously located near Golf course Extension road, and provides easy connectivity to the major areas of the city, as well as NCR through NH-8, Sohna Road and Golf Course road. Their locational advantage makes them an ideal place to set up a retail store. Additionally, Gurgaon boasts of the third-highest per capita income in India that invariably points out to the exceptional purchasing power enjoyed by its residents, and therefore makes it an ideal spot for setting up a business. These new commercial project in Gurgaon also lie in one of fastest developing neighborhoods of the city, which enables them to attract a number of prospective customers.

Modern Features to Consider Before Investing In a Residence in Amritsar

Amritsar is the second largest city of Punjab, as well as a prime cultural and spiritual hotspot of India. It lies at a strategic location, providing exceptional connectivity to some of the prominent North Indian cities of the country.

Housing one of the biggest international airports of India, Amritsar boasts of an excellent infrastructure. Apart for a highly systematic transportation system, this city provides its residents with state-of-the-art educational and healthcare facilities. All these factors make investing in flats and villas in Amritsar quite a good idea. However, before purchasing a residence there are a few advanced facilities that you must take into account to ensure the utmost comfort and convenience of your family members. Some of them are:

• Advanced security:Every day in the news we hear about the ever increasing crime rates in the modern cities. In such a scenario, it has become extremely vital that you invest in a residence that is highly secured, in order to ensure the safety of your family members. You must ideally set up your residence inside a gated community that has world-class security system. The residential unit should have CCTV cameras installed in its vital spots, apart from having the presence of experienced security personnel.
• Recreational facilities:It would be advisable that you invest in a residence that offers a number of recreational facilities and conveniences to its residents. Nowadays not many people have enough time to spare to visit fitness centers and clubs in order to take care of their heath, thereby having these conveniences right at the doorstep would be extremely advantages for them. Some of these recreational facilities include a gymnasium, squash court, badminton court, swimming pool and spa.
• Child friendly environment:In case you are a family person, it would be important that you invest in a residential unit that maintains a child friendly environment and has special areas where your child can happily play. It would be an added benefit if there is a crèche inside the residential complex, so that you do not have to worry about your child’s while being at work.

To invest in a flat or villa in Amritsar you can take a look at the websites of the major real-estate projects of the city in order to identify the one that meets all your requirements and needs.

Benefits of Buying a Villa in Amritsar

Amritsar is a city in Punjab, famous for the Golden Temple, Jallianwala Bagh, Wagah Border, and many other popular tourist places. There are many good residential localities in the city as well that you can choose from.

Villas in Amritsar generally constitute an open plan lounge, kitchen, bathrooms, private terrace, and balcony. If you are planning to buy a villa, then you can think of expanding your search to the outskirts of Amritsar, as you will be able to find affordable properties in those areas.

If you are more concerned about property value, then you should choose a place that will give you a huge resale price. You should be aware of this before buying any property. You will get a good value for your property if the area has a scope for development in future.

Buying a villa is perhaps the most challenging task for people looking towards making an investment in real estate. The fact that you have the financial capacity to buy a villa is quite encouraging. There are many advantages of living in a villa, especially in a city like Amritsar.

Open Space

Villas provide you with more open space for your kids and pets. One of the best parts about villa ownership is the ample parking space for you and even your guests when they come to visit you.

Healthier Living Environment

Less air and sound pollution helps you relax. If you can afford a swimming pool, nothing like it! Swimming can help combat the stress of a hectic life and keep you healthy. The green lush garden, tweeting birds, and vibrantly colored flowers will immediately de-stress you after a hectic day.

Investment perspective

Even though the cost of villas is on the higher side as compared to flats, but as long as investment is concerned, villas are considered to be a better investment option as compared to apartments. After all, who wouldn’t want their own little oasis in Amritsar?

Other advantages:

• Villas are independent houses with a free space in the front and backyard, with separate compound walls for each villa. So, you can enjoy the great outdoors without having to leave your property.
• If the villa is located in a gated community, you benefit from an exceptional community living experience. Gated communities also have good security.
• In terms of cost, villas are slightly costlier than the apartments, but the amenities and privacy they offer make it worthwhile.

These are some of the advantages of buying a villa in Amritsar. You can begin searching for villas in the city online. Make sure you do your due diligence before you decide to finalize the deal. Also, ensure that you check out several villas in Amritsar before shortlisting the perfect one.

Essentials of a Good Commercial Space

While choosing a commercial space for business, the first and the foremost thing that one needs to keep in mind is whether or not that space would be easily accessible to the customers? A commercial space should be built in such a way that the customers would want to visit there time and again, without having to think twice about commuting hassles.

Here are the few things one should keep in mind while choosing a commercial property for lease:

• The commercial space should be easily assessable to the customers and they should not have to face any difficulties in locating it. One should choose a property that has ample open space on the sides for signages, so that customers can easily locate the place.
• There should be multiple entry and exit points in the commercial space, so there is no congestion inside the building. The entry and exit points should also be conveniently located so customers do not have to face difficulties in finding their way in or out. One should always ensure the maximum comfort of the customers, in order to gain their loyalty.
• The commercial space should have a unique and attractive appearance in order to catch the eyes of the customers. Usage of cobbled stone boulevards and vibrant interiors are some of the ways by which one can leave a lasting impression on the mind of the customers so that they come back to the place again and again.
• Providing the customers, as well as the employees with ample choices for food and snacks is a basic requirement of every commercial space. There should be a variety of fine dining restaurants as well as a spacious food court available in the premises of the commercial space, so that there is something suitable for the taste of every person.
• The lifts and the escalators of the commercial space should be placed in strategic points so as to make movement between floors easier.  Presence of a substantial number of elevators and escalators is also detrimental to the success of the businesses on the upper floors as without such provisions customers would hardly want to make the effort to visit them.
• Proper care must also be taken to ensure good ventilation and air conditioning inside a commercial space, else customers will feel uncomfortable inside.

Thus, a commercial space should be such that customers and clients visiting must feel absolutely comfortable to carry out their business inside. The success of any commercial building largely depends on the amenities that visitors coming in can avail of as well as the aesthetic appeal of the place.

Grow your Investment Portfolio by Investing in Commercial Property

 

Investing in property is something that has traditionally been one of the most secure forms of investment. Even though earlier people were focused more on the residential properties as they used to carry lesser risk, today with things having become very organized and transparent, more and more people are coming forward to invest in commercial properties too. This is also because commercial properties are financially more rewarding than residential properties.

So, if you are looking forward to grow your investment portfolio, go through the below mentioned points in order to understand the reasons to invest in a commercial property

• Perhaps the most important reason that compels people to invest in a commercial property is that it offers great earning potential. Unlike residential properties, commercial properties usually have the yearly return between 6% and 12% provided it is located in a proper location. Like, for instance, more and more investors are buying commercial properties in Gurgaon and other such major cities to earn excellent revenue.
• As the commercial real estate tenancies are usually lengthier than residential tenancies, the cash flow year over year continues.
• Currently, the Indian economy is witnessing a steady growth in start-up businesses and the entrepreneurs are able to attract massive investments not only from leading Indian corporates but also from international players. This is another factor that has helped in increasing the demand for commercial real estate in the Indian cities.

For those looking forward to investing in real estate, investing in a commercial property is definitely a better option at the moment because the prices of the commercial properties are at present quite low.

Although a good investment, you should not just assume that simply owning a commercial property is sure to bring you a steady and high return on your investment as a wrong purchase can even result in a huge loss. Therefore, it is important that you do your research well to find out if a particular property is a smart purchase, in terms of location and growth potential. If you are confident and feel that the basics of the property that you have finalized to buy are sound, then investing in a commercial real estate property could be a great addition to your investment portfolio.